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IBM (IBM+1.52%) announced Monday it plans to invest $150 million in the U.S. in the next five years to “fuel the economy” and accelerate the country’s role as a “global leader in computing.”
The Armonk, New York-based computing giant said the investment includes $30 billion-plus in research and development to continue making mainframe and quantum computers in the U.S.
“We have been focused on American jobs and manufacturing since our founding 114 years ago, and with this investment and manufacturing commitment we are ensuring that IBM remains the epicenter of the world’s most advanced computing and AI capabilities,” IBM CEO Arvind Krishna said in a press release.
IBM currently makes mainframes in Poughkeepsie, New York. “More than 70% of the entire world’s transactions by value run through the IBM mainframes that are manufactured right here in America,” the company said.
IBM didn’t see much movement when the markets opened following the news.
The plan comes as President Donald Trump has implemented sweeping tariff policies he says are meant to bolster U.S. manufacturing. IBM didn’t reference the tariff’s in the announcement. The company announced strong first quarter earnings last week, beating expectations.